The Global Advanced Airport Technologies Market Grow To Nearly $11.1 Billion By 2018
Wellesley, Mass. (PRWEB) March 17, 2014
According to a new technical market research report Global Market for Advanced Airport Technologies. from BCC Research (http://www.bccresearch.com), the global advanced airport technologies market was valued at just over $9 billion in 2012 and $9.2 billion for 2013. BCC Research expects the market to grow to nearly $11.1 billion by 2018, and register a five-year compound annual growth rate of 3.8% from 2013 to 2018.
Airports are the backbone of the global commercial air transportation system. The rapid growth of this sector creates a continuing need to expand airports and provide high-quality services. At the same time, technological, regulatory, security, and economic trends are placing new demands on airports.
A major example of technological developments that are forcing airports to introduce new technologies is the introduction of new super-jumbo aircraft such as the Airbus 380. The A380, which can carry up to 850 passengers in some configurations, requires many airports to upgrade their baggage-handling systems and other ground infrastructure.
Regulatory developments often are tied to technological developments. For example, regulatory authorities, such as the Federal Aviation Administration (FAA), are working toward the implementation of global positioning system (GPS)-based approach and landing control systems such as LAAS (local area augmentation system). In the future, at least some airports may be required to install LAAS or similar systems.
Airport security has been a major concern for decades due to the vulnerability of commercial aircraft to hijacking. Since the horrific events of September 11, 2001, a worldwide effort to develop and deploy technologies to prevent terrorists from gaining access to aircraft has been underway. The effort to secure the world’s civilian air fleet has become a race, with terrorists finding new ways to circumvent the security measures that have been put in place.
On the economic front, the privatization of many formerly government-run airports around the world has created a growing class of airport operators with the financial means and the incentives to invest in modernizing their facilities and infrastructure. The modernization of facilities and systems can help these private airport operators improve their bottom line by cutting costs and increasing traffic and revenues.
The net result of these trends is that over the next 20 years, airport operators are expected to spend hundreds of billions of dollars on new airport construction, expansion, and modernization.
This technical market research report from BCC Research provides an overview of the global market for electronic, electro-optical, and other modern technologies used in airports, including air/ground traffic management and control systems; landing aids, guidance, and lighting; airport communications; digital information display solutions; airport management software; and ecurity, fire protection, and emergency services. It includes analyses of global market trends, with data from 2012 and 2013, and projections of CAGRs through 2018. Technological, regulatory, security, and economic trends that are effecting the market are also discussed. It also presents developments impacting key airport technology systems such as air and ground traffic management; baggage claim and handling; security, fire, and, emergency systems; and many others.
This report is intended for executives, entrepreneurs, investors, venture capitalists, and other readers with a need to know where the market for advanced airport technologies is headed and where the greatest potential for growth exists in the next five years. The report’s findings and conclusions will also be of interest to the broader aviation and transportation security communities.